Mumbai, Dec 19 Indian stock markets opened on a positive note on Friday, taking cues from supportive global markets, even as benchmark indices remained on track to close the week in the red for the third consecutive session.
In early trade, the Sensex was trading at 84,866.06, up 384.25 points or 0.45 per cent at around 9:20 AM.
The Nifty index was also higher, quoting at 25,926.90, up 104 points or 0.4 per cent. The index continues to trade within the 25,700–25,900 range, reflecting trader indecision.
"Immediate resistance is placed at 25,900–26,000, while key supports are seen at 25,700 and 25,600," analysts said.
Buying interest was seen in several heavyweight stocks. Shares of TMPV, Eternal, Infosys, Power Grid, BEL, Sun Pharma, and Bajaj Finserv gained up to 1.5 per cent and emerged as the top performers on the Sensex.
On the other hand, ICICI Bank and Bharti Airtel were the only stocks trading in the red during early deals.
Sectorally, all indices were trading higher. The Nifty Healthcare index led the gains, rising 1.14 per cent, followed closely by the Nifty Pharma index, which was up 1.1 per cent.
The Nifty Auto index also gained around 0.5 to 0.57 per cent.
The broader markets mirrored the positive sentiment, with the Nifty Midcap index gaining 0.45 per cent, while the Nifty Smallcap index was up 0.47 per cent.
Meanwhile, investors remain cautious ahead of several key global and domestic triggers.
Globally, market participants are keeping an eye on retail sales data from the UK, wage tracker data from the euro area, and the US Federal Reserve’s balance sheet numbers. On the domestic front, investors are awaiting the Reserve Bank of India’s Monetary Policy Committee meeting minutes and the latest foreign exchange reserve data.
In terms of institutional activity, foreign institutional investors turned net buyers, purchasing shares worth Rs 614.26 crore on Thursday.
Domestic institutional investors also supported the market, with net purchases of Rs 2,525.98 crore during the same session.
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